If you choose Simple Mode, your company will start with 1000 shares in total and each of those shares will have an initial price of $0.01 per share. The 1000 shares will be distributed among the shareholders (or all held by one shareholder). This is a fairly common arrangement for early-stage businesses.
If you'd like to amend your share classes, first click 'Advanced Mode' here:
In Advanced Mode, you can edit the types of classes of shares, the total number of shares issued and the initial price of those shares.
To add an additional share class, click here:
To remove a share class, simply click the 'X':
To amend the properties of the share class, simply click the gear icon:
Then a pop up will appear where you can amend the share class properties for that particular share class:
Keep in mind a company with 1,000,000 shares is no more valuable than a company with 1000 shares.
Details on the types of share classes (Common and Preferred) that you can have on Founded can be found here.
The number of shares just reflects how many units you are dividing your company's ownership into.
In Advanced Mode, you can also adjust the initial price of the shares. This is sometimes done with the advice of an accountant. Remember that each shareholder will need to pay for their shares from personal funds and deposit the full amount into the business's new bank account. To learn more about editing price of shares on Founded, click here.